What is a “livable wage,” and should we strive to raise wages for American workers?
There are lots of conflicting studies and reports. The Congressional Budget Office projects that an increase in the minimum wage from $7.25 an hour to $10.10 an hour would eliminate 500,000 jobs while raising the incomes of nearly 17 million Americans.
Even prominent economists like David Card and David Neumark diametrically disagree on the likely consequences of raising the minimum wage, and their studies of results in New Jersey have consistently yielded conflicting results for decades. [excerpt]
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Fee, Christopher. "Putting a Human Face on the Minimum Wage." MarketWatch.com (March 13, 2014).
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Original version is available from Market Watch at: http://www.marketwatch.com/story/putting-a-human-face-on-the-minimum-wage-2014-03-13/
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